CROP Infrastructure Corp. (OTC: CRXPF) (CSE: CROP) announces it will launch its first line of Hemp oil infused cosmetic and therapeutic products under the brand “URBAN JUVE”, pursuant to its previously announced License Agreement with The Yield Growth Corp.’s subsidiary, Urban Juve Provisions Inc. (formerly Juve Wellness Inc.). The License Agreement gives CROP exclusive rights in Italy to the URBAN JUVE products, as well as non-exclusive distribution rights in the United States.
Furthermore, the Company in partnership with the team from Xhemplar S.R.L. CROP’s cultivation and extraction joint venture partner in Italy, is scouting locations to open 2 CBD retail outlets in Northern Italy under the company’s Emerald Heights brand, before the end of 2018.
The URBAN JUVE product line which will be featured prominently along with Xhemplar products, and Hempire hemp oil products at all Italy locations. Urban Juve is inspired by Ayurvedic philosophy and is created for the modern, wellness-conscious consumer. The unique formulations benefit consumers seeking natural products made with the highest quality ingredients. Urban Juve is manufacturing its first line of 12 topical products in the fall of 2018. All the products contain hemp oil procured through a patent pending hemp oil extraction process. Crop has the right to add hemp oil to the products and distribute them throughout Italy.
According to a study by Arcview Market Research and its research partner BDS Analytics, by 2027 worldwide sales of legal cannabis are forecast to reach $57 billion. During that period, spending in North America is expected to leap from $9.2 billion to $47.3 billion driven mainly be recreational use. The fastest cannabis market growth is expected to come from outside North America, especially Europe where the main growth driver will be medical applications. Medical cannabis use will be fed by $1.3 trillion estimated annual government-subsidized healthcare spending. The structure of the healthcare industry is expected to make Europe the number one medical cannabis market in the world.
“We are excited to be partnered with CROP for the European launch of the URBAN JUVE hemp oil infused product line,” says Penny Green, President and CEO of Yield Growth. “CROP is a demonstrated leader in the international hemp market with affiliations to hemp production in Nevada, California, Washington, Italy and Jamaica.”
CROP Infrastructure Director & CEO Michael Yorke states: “We are pleased with the URBAN JUVE branding initiative by Yield Growth and feel it will resonate with health and lifestyle consumers. We look forward to offering the URBAN JUVE products in Italy.”
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